From day one on Ink Chain, Squidtoshi Snackamoto has been one of the most dedicated builders, pushing forward the ecosystem with SquidSwap – a platform designed not just as a DEX, but a launchpad for new tokens. Giving up Christmas to work on SquidSwap, running VCs on Telegram, and supporting Ink and Octopepe, he embodies the hard-working spirit of Ink Chain and Kraken.

Interview with Squidtoshi Snackamoto

In this interview, we dive into the origins of SquidSwap, its role in the Ink ecosystem, and the journey of building in Web3. We also explore his thoughts on the future of Ink, development challenges, and how his team is preparing for ETHDenver.

MrW: Tell us more about your project.

SquidSwap: SquidSwap is more than just a swap—it’s a launchpad with multiple options for anyone to launch a token project. Our swap was designed to balance fun, volatility, and safety in a way that makes it accessible to both newbies and crypto veterans. We use the $SQUIDS token as a utility token for the swap. Projects can launch for free by simply holding a certain amount of $SQUIDS. The value needed to launch is dynamic and can change based on the token’s price, making it flexible and fair.

$SQUIDS also serve as a requirement to buy tokens on SquidPump, our platform that helps reduce spam launches, rugs, and unfair token distribution. We’ve been live since day one on Ink Chain and have seen how rapidly it’s grown and changed. Our goal is to be the go-to place for anyone who wants to launch a token. We have a dedicated SQUID Alliance channel where users can find and build teams with the right people. While trading is at the heart of our operation, community and education are also core priorities.

MrW: Where did the idea for the launch on Ink Chain come from?

SquidSwap: We’ve been Kraken customers for over six years and have always admired their commitment to the crypto ethos. They were the only U.S. exchange to list Monero for a long time, and they made it easy to get on-chain. So, when we heard about Ink, which they support, we immediately saw an opportunity.

We initially got an email about the Ink testnet launch and dropped everything to brainstorm a project that would best serve the ecosystem on this new chain. We knew the traditional process of launching tokens—using Remix or the command line—can be intimidating, so we focused on creating a simpler launchpad solution for new users. Of course, with any launchpad, rugs and scams can happen, so we’ve put as many safeguards in place as possible and are building a developer rating system to help the community track trustworthy contributors.

MrW: What is your experience in the Web3 world? Have you participated in any projects before?

SquidSwap: My Web3 journey started in 2016 as a crypto buyer. I picked up BTC, LTC, and ETH after selling a domain name and reinvested some of those profits into crypto. I held onto them for a long time, not even understanding how to interact on-chain until the ICO boom. That was when I learned about EtherDelta, Binance, and the fundamentals of liquidity management.

Like many in 2018, I didn’t sell the top and watched my holdings tumble in the crash. Around then, I met my now-wife and stepped away from the market to focus on life expenses, selling most of my holdings. When DeFi summer came around in 2020, I missed it. I finally got back in when a friend introduced me to BSC in 2021. At that time, I was working overnight security—earning nearly nothing—but making more by trading. That’s when I began digging deeper into Solidity and the EVM.

We built some basic trading bots, including sniper bots to manage positions, and had good success until the 2022 bear market. After that, I shifted some focus to my Web2 business, but in 2023, I returned to on-chain trading using GMX and got into deeper coding and LSTM machine learning. Then Ink testnet was announced, and we dove in to create SquidSwap, looking at successful launchpads on other chains and adapting them to bring new users into Ink.

MrW: How do you see the future of the project in the next month and the next year?

SquidSwap: Our success hinges on the community we build right now. In just the last month, we’ve formed a group of people who believe not just in SquidSwap but in the entire Ink ecosystem. As Ink grows, we grow. We’re committed to forming as many partnerships as possible to make that happen.

We’re releasing features as quickly as we can develop and test them, and we aim to keep educating new users on how to launch, swap, and build on Ink. Our roadmap is ambitious, and community feedback drives our evolution. Expect continuous improvements and new offerings on both the swap and our launchpad services.

MrW: How was it in the beginning? I heard you thought Ink would launch in March, and you basically devoted your life to building SquidSwap.

SquidSwap: When the email about Ink’s launch came, I paused everything else and went straight into building. Our original launchpad was ready on day one—fully functional in beta. SquidPump’s first version worked but wasn’t perfect. The initial token distribution and pricing model weren’t ideal, so we returned to the drawing board and took community feedback to heart. We adjusted token pricing to reflect more accurate values and introduced SquidSafu launches, which provide equal distribution for pre-launch buyers based on their ETH contribution, resulting in less volatility and a fairer launch.

Of course, there were high-stress moments—DDoS attacks, attempted rugs, and other classic crypto challenges—but we’ve remained online 99.9% of the time, and no user funds have been lost. Rigorous testing is key to our process. As the main developer, sometimes I’ve had to sacrifice sleep to keep the platform running smoothly, but that’s just the reality of crypto.

MrW: What are your plans for ETHDenver?

SquidSwap: A team member and I will be there starting February 25th. Our plan is to attend panels, happy hours, and meetups to network and hopefully meet the Ink team in person. For us, it’d be like meeting The Rolling Stones. We’re not actively participating in any hackathons or side events because we’re laser-focused on SquidSwap, but we’re excited to connect with the community and other innovators in the space.

MrW: How would you compare building a dev team in Web3 versus Web2?

SquidSwap: It’s quite similar in that you still have customers (the community) who’ve entrusted real value to the platform. You need to keep them engaged and continually improve the product. However, Web2 tends to move slower and often has more complicated hiring processes. In Web3, it can be easier to find and connect with skilled people through the community itself. My background in enterprise SaaS translates surprisingly well to running a swap. At its core, a swap is just a software platform that needs to evolve rapidly based on user feedback.

MrW: How do you see Optimism and Ink Chain in general? I heard you’ve been in touch with people from Optimism.

SquidSwap: We’re big supporters of Ink, especially given Kraken’s track record. Optimism has also been great; they reached out to discuss Superchain implementation and how to prepare for interoperability once it goes live. As someone who isn’t a formally trained computer scientist, I find their work incredible and inspiring for the future of EVM development. In my view, Superchain is the future, and interoperable L2s will take the lead.

We’re thrilled you reached out for this interview, and it’s been fantastic to hear from other projects too. If anyone wants to collaborate or has more questions, feel free to drop by the SquidSwap Telegram!

MrW: Thank you so much. I really appreciate and thank you for your hard work from the very beginning and building Ink on chain.

SquidSwap

SquidSwap is a hub for launching, trading, and growing projects on Ink Chain. With a passionate founder, a clear vision, and deep commitment to the ecosystem, SquidSwap has already become a pillar of the Ink community.

The journey so far has been full of challenges, but Squidtoshi and his team remain dedicated to building, iterating, and pushing Ink forward. With plans for ETHDenver, continuous improvements, and deeper integrations, SquidSwap is set to play a major role in Ink Chain’s evolution.

🦑 The future of Ink is being built today—SquidSwap is leading the charge.